Moody's could drop Wind Telecomunicazioni

Moody's Investors Service said it placed Wind Telecomunicazioni SpA's B1 corporate family rating, B1-PD probability of default rating and Ba3 senior secured notes rating, and Wind Acquisition Finance SA's B3 senior notes and Ba3 senior secured notes under review for downgrade.

The action follows the company's announcement that it had sought approval from its senior facilities' lenders paving the way for a PIK refinancing transaction that will result in the company incurring additional junior debt at the restricted group level for refinancing of the PIK notes and existing senior notes.

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